On July 13, 2017 the Government of Liechtenstein issued a press release announcing that on July 11, 2017 it adopted a report and a proposal for the amendment of the Automatic Exchange of Information (AEoI) Law.
The national implementation of the AEoI is being examined by the Global Forum on Transparency and Exchange of Information for Tax Purposes, of which Liechtenstein is a member, through a peer review process. According to the Liechtenstein Government, first results from tests in other countries have shown that also in Liechtenstein adjustments of law are required.
In the context of these adjustments, definitions are to be laid in law and the document retention periods are to be clarified. In addition, the deadline for the differentiation between "existing accounts" and "new accounts" will be adjusted. Nothing will change for existing AEOI partner jurisdictions. According to the press release, the adjustments are expected to enter into force on January 1, 2018.
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